Markets open in loss on profit taking

MUMBAI: Equity benchmark indices declined in early trade on Monday as investors opted to book profits after the recent record rally in equities.

Mixed cues from Asian markets also added to the muted trend in domestic equities.

After beginning the trade on a weak note, the 30-share BSE Sensex further declined 204.39 points to 79,792.21. The NSE Nifty dipped 40.75 points to 24,283.10.

Among the Sensex pack, Titan, Asian Paints, Adani Ports, Bajaj Finserv, UltraTech Cement and Maruti were the biggest laggards.

Tata Motors, Tech Mahindra, ICICI Bank and State Bank of India were among the gainers.

In Asian markets, Shanghai and Hong Kong were trading lower while Seoul and Tokyo quoted in the green.

US markets ended with gains on Friday.

In a volatile session on Friday, the broader NSE Nifty continued its record-breaking run and inched up 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85. The BSE benchmark, however, dropped 53.07 points or 0.07 per cent to settle at 79,996.60.

Global oil benchmark Brent crude dipped 0.09 per cent to $86.46 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs1,241.33 crore on Friday, according to exchange data.